公司面對股東提升短期股價的壓力，制定與公司短期股價表現相連的薪酬制度，及機構投資人過度重視公司短期績效，都可能促使公司經理人短視近利，因過度追求短期盈餘而犧牲長期價值。在企業社會責任的國際趨勢下，所興起的社會責任型投資，是藉由在投資決策的過程中，將企業對環境、社會及公司治理的關懷納入重要考量的一種投資方式，強調在投資時，重視公司長期價值，不短視近利，以促進股東長期利益，從而改善公司經理人短視近利的情況。
本文欲探討台灣社會責任型投資基金是否真有別於一般共同基金把重點放在短期盈餘，而較重視公司長期價值。更具體地，本文利用CAPM、三因子模型及四因子模型，比較社會責任型投資基金與一般共同基金的績效表現是否有所差異，及其短視近利程度的高低。
實證結果顯示，台灣社會責任型投資基金在挑選成分股時，會較重視公司長期價值，而一般共同基金則較重視短期盈餘。相較而言，一般共同基金較短視近利，但就風險調整後的財務績效表現而言，兩者則無明顯差異。

This paper explores whether a myopia phenomenon exhibits in Taiwan’s socially responsible investment (SRI) mutual funds. Myopia as an overweighting of a firm’s expected short-term earnings and an underweighting of expected long-term earnings. Socially responsible investment concerns about social, environmental and corporate governance (ESG) issues and it takes into account both the investors needs and investment’s impact on society. It is interests in long-term oriented investment strategies that include sustainability investing. Using socially responsible investment strategies can improve the degree of myopia phenomenon.
We would like to examine do the socially responsible investment mutual funds choose its component stocks depending on their long-term value instead of short-term earnings. On the other hand, whether non-SRI mutual funds are concern about a firm’s short-term earnings and exhibit a myopia phenomenon? In addition, we apply CAPM, three-factor model and four-factor model to examine the difference of financial performances between SRI and non-SRI mutual funds. And use a myopia proxy variable to explore the degree of myopia.
Our empirical results show that SRI mutual funds pay more attention on long-term value. Non-SRI mutual funds exhibit a myopia phenomenon. By comparison, non-SRI mutual funds are more myopic than SRI funds. Also, there is no significant difference of financial performance between these two kinds of mutual funds.

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二、中文文獻
1.邱慈觀（2011），中華企業倫理教育協進會教研心得分享會 第六次。
2.邱慈觀（2011），中華企業倫理教育協進會教研心得分享會 第七次。
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4.邱佳眉（2012），社會責任投資與短視近利，國立台北大學金融與合作經濟學系碩士論文。

三、參考網站
1.GRI官方網站http://www.globalreporting.org/Home
2.ISO官方網站http://www.iso.org/iso/home.html
3.台灣企業永續發展協會 http://www.bcsd.org.tw/index.htm
4.台灣企業社會責任協會 http://www.csrtaiwan.org/index.php
5.聯合國全球盟約網站http://www.unglobalcompact.org/